Northwestern Mutual Wealth Management Co. Invests $1.12 Million in DTE Energy Company $DTE

Northwestern Mutual Wealth Management Co. acquired a new stake in DTE Energy Company (NYSE:DTE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,327 shares of the utilities provider’s stock, valued at approximately $1,116,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Louisiana State Employees Retirement System bought a new stake in shares of DTE Energy in the 1st quarter valued at $1,550,000. Convergence Investment Partners LLC acquired a new position in shares of DTE Energy during the 1st quarter valued at $3,142,000. Capital Innovations LLC acquired a new position in shares of DTE Energy during the 4th quarter valued at $1,014,000. Vanguard Group Inc. boosted its stake in DTE Energy by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock worth $3,392,888,000 after acquiring an additional 766,499 shares in the last quarter. Finally, Oxbow Advisors LLC bought a new position in DTE Energy during the fourth quarter worth $3,145,000. Institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DTE shares. Wall Street Zen downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Truist Financial cut their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Barclays cut their price objective on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Weiss Ratings raised DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group set a $172.00 target price on DTE Energy in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy Price Performance

Shares of DTE opened at $136.16 on Wednesday. The business’s fifty day moving average is $145.63 and its 200 day moving average is $145.35. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The stock has a market cap of $28.33 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.95 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the business posted $1.36 EPS. Sell-side analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.